The last five weeks were great for Telcoin as we continued to see more results made by the hard work and tireless effort of the compliance team finally come to fruition. Telcoin is currently fully compliant and legally able to commence operations in three key regions that will allow us to send fast, secure, and affordable remittances in the near future. We are very proud of the team and the work they have done to make this a reality, however, there is little time to celebrate as we still have a long road ahead of us. We are confident that the coming months will produce more results, more corridors, and more partnerships as we travel further along the road to “Sending Money Smarter.”
TELCOIN IS NOW COMPLIANT IN THE PHILIPPINES
In July, after a lengthy application process, we were finally awarded a Bangko Sentral ng Pilipinas (BSP) Virtual Currencies Exchange license (VCE). Receiving this license was an important step toward our vision for financial inclusion in the Philippines and will open up many more possibilities in the future – beyond just the ability to send and receive remittances.
Getting a license in the Philippines has always been a big part of our strategy to open up the Southeast Asian remittance market, and now we aim to build upon existing momentum to ensure that Telcoin becomes a household name when it comes to sending money to loved ones in the region.
PUTTING THE WORK INTO THE PHILIPPINES
During his latest visit to Manila, Claude met with a number of telecom operators and other complementary businesses to continue discussions about the advantages of working with Telcoin. Since obtaining the VCE license, many more companies are eager to partner with us and enjoy the benefits Telcoin can bring through our affordable and convenient remittance model. We are very much looking forward to bringing these services to many more partners in the Philippines this year.
AUSTRALIA JOINS THE LIST
Alongside Canada, Australia was another high priority market we wanted to gain compliance in due to the relatively high number of remittances sent to Southeast Asia. Recently, we were very pleased to announce that the Australian Transaction Reports and Analysis Centre (AUSTRAC) approved Telcoin as a money service business, allowing us to formally start setting up our remittance services to provide migrant workers, international students, and anyone else sending money home the tools to do it faster and more affordably than ever before.
In June the first iteration of the Telcoin wallet was released on iOS and Android to much fanfare and approval from the community, and the feedback we received from users has been extremely valuable in helping us assess how the wallet performs in a real-world situation (and how it could be better). Our tech team, lead by Simo, has been listening to user feedback and since releasing we have made a few small updates dealing with some minor bug issues as well as streamlining the user experience. This is just the first stage for the Telcoin Wallet as we plan to continue to make improvements as well as adding new features over time, and we are excited to get it into as many hands as possible and see how the wallet develops over the coming months.
COMMUNITY AMBASSADOR PROGRAM
This month we are pleased to announce some new additions to our Community Ambassador program. Our Ambassadors play a huge role in helping us manage the community as well as contribute ideas and give general feedback into ways we could be involving and supporting our community more. We are very grateful for the support and influence they give to us and look forward to continuing to work closely with them!
Join the community: